The world's biggest accountancy firm helped in falsifying documents to hide Roman Abramovich's wealth and evade tax, BBC Panorama has found.
A BBC investigation has alleged that accountancy firm Deloitte helped conceal £508m worth of Roman Abramovich’s assets through backdated documents, potentially allowing the Russian billionaire to avoid millions in tax.
The investigation by BBC Panorama and the Bureau of Investigative Journalism examined leaked records which reportedly show luxury properties, private jets and superyachts being removed from one of Abramovich’s company accounts in Cyprus.
Documents also suggest advisers changed financial records to make it appear that companies linked to Abramovich did not own funds on which tax may have been due. A separate set of records allegedly concealed a fortune worth more than $10bn.
Barrister Andrew Mitchell KC described the alleged tax arrangements as straightforward tax evasion.
Abramovich’s lawyers denied that he evaded tax or concealed his wealth, saying there was no evidence he knew about or authorised the falsification of documents. Deloitte Cyprus said it complied with applicable laws but could not comment on the specific allegations.
The revelations come as £5.4bn of Abramovich’s assets remain frozen in Jersey, where a criminal investigation has been ongoing for four years. His lawyers have denied wrongdoing in that investigation, describing it as politically motivated.
